The U.S.-China trade war is spooking Wall Street, but Phil Orlando of Federated Investors says that's not the only hurdle ahead.
Phil Orlando, chief equity market strategist at Federated Investors, calls the latest escalation a "two-fer" for the White House.
"Trump is using the latest new round of tariffs on China for two reasons – first, to extract trade concessions from China on the structural issues ; second, to compel [Fed Chair Jerome] Powell and the Fed to be more aggressive come the September FOMC meeting," Orlando told CNBC's "Earlier this week, Powell cited the ongoing trade war as one of the reasons for easing monetary policy.
But, investors face more hurdles than just the trade war, Orlando said during an interview on Thursday, and it could cause market waves through to the fall. "As you get into the August, September, October time frame, you've got the Fed backdrop, and then you've got all of the overseas issues which in our view are legitimate concerns," said Orlando.
Aside from the escalating trade conflict with China, Orlando cites Middle Eastern tensions, the European Central Bank's leadership transition from
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